Saturday, September 06, 2008

Federal highway trust fund running out of FY2008 Cash

Funds low for gas tax funded highway fund

While the other blogs talk about the largest bailout ever!

John Horsley, executive director of the American Association of State Highway and Transportation Officials, said the funding delays proposed by Peters will "have grave repercussions for the states, for hundreds of thousands of workers in the construction industry, and the driving public."

"It will worsen the financial crises many states are already facing, and it will delay or halt needed transportation projects and leave contractors and suppliers with IOUs instead of cash to pay their workers," Horsley said in a statement.

This is the scary time of the economic cycle.

Got Popcorn?

1 comment:

Rob Dawg said...

Seems I warned about exactly this. Specifically the HTF but also pretty much all the lockboxes.

Next up; paying teachers.